Budgeting for Christmas if you’re a parent

Life for single parents at Christmas can be difficult – not only are you planning celebrations single-handedly, but you’re also often having to do it on a reduced budget.

Just before Christmas 2018, nearly 60% of single parents felt less confident about their finances.*

After Christmas 2018 and coming into 2019, 31% of single parents we polled felt less confident about meeting their credit commitments. Only 23% felt more confident about their financial situation and managing bills*.

There are always little extras parents need to spend during the year, and spending during Christmas can lead to increased worry.

If you’re a single parent looking to take care of your finances and credit score this Christmas, here are some ways to keep on top of your money and budget effectively.

If you need more help and information about how to manage your finances, you can contact Gingerbread – they specialise in providing help for single parents.

*Equifax survey conducted by Censuswide of 1,002 single parents November 2018

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Infographic: Parents and Christmas
<img src=“https://www.equifax.co.uk/resources/money_management/assets/parents-at-christmas/Equifax_SingleParentsAtChristmas.png”>

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